Can Banks Afford to Keep their Customers?

August 22, 2013
Hosted by Brett King

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Episode Description

Typically, banks make their money off the top 20% of customers and lose money on the bottom 20%. Identifying customers that will help maximize their profits has become the mission of most banks, but is it as simple as always finding the right customer? Should banks reject customers that don't increase their profitability and encourage them to use ever growing alternative financial services? Can banks help create customers that create greater customer profitability? Popular sentiment is go mobile. Why? Cause it is sexy. Cause it is what everyone is doing. AND because according to the latest surveys, mobile bankers tend to be more actively engaged with their money, and have the intent to continue to be more actively engaged throughout their financial history. Engaged customers can become profitable customers. BUT they may not be profitable customers yet. So what should you focus on in the meantime? Join Brett King and his guests Serge Milman of Optirate, and Ron Shevlin of Snarketing 2.0 as they discuss customer profitability and how it has to be considered in the business strategies that affect every part of banking- from the more traditional routes to the newly mobile masses.

Breaking Banks Fintech

Breaking Banks Fintech

Thursday at 12 Noon Pacific Time on VoiceAmerica Business Channel

Many industries have been revolutionized by technology in the last decade. Books, Music, TV, Communications, and now it's happening to our money. Fintech, or financial technologies, is the new disruption that is sweeping across the globe and dominating the tech world conversations on everything from ApplePay to new credit algorithms, and upending the access to capital. Fintech is going to give millions of people who have never had access to banking, saving, and capital, a bank account that they carry in their hands.

Tune into Breaking Banks with Brett King, for a look at how technology and customer behavior will bring about more changes in banking in the next 10 years, than in the last 200 years. Listen every Thursday at 3pm eastern time, noon pacific on the VoiceAmerica Business Channel. You'll never look at your bank account the same again.

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Brett King

Brett King

Brett King is a three times bestselling author, well-known futurist and speaker, and founder of a breakout new retail banking and lifestyle concept "Moven.” King was voted as American Banker's Innovator of the Year in 2012, and was nominated by Bank Innovation as one of the Top 10 "coolest brands in banking.” King has been featured on CNBC, Bloomberg, BBC, Financial Times, The Economist, The Asian Banker Journal, The Banker, Wired magazine and many more. He contributes regularly as a blogger on Huffington Post.

King initially achieved recognition for his bestselling book BANK 2.0, which received widespread industry acclaim and topped category lists in the UK, USA, Germany, Japan, Canada, France Russia and Asia. 'Branch Today, Gone Tomorrow' - King's second book achieved bestseller status in its first week on Amazon. His current book BANK 3.0 is currently topping the charts in the US, UK, China, Canada, Germany, Japan and France and has been published in English, Chinese (Simplified/Traditional), Korean, Russian and Polish to-date. He is widely considered the foremost global expert on retail banking innovation today.

As an industry thought leader, King has delivered keynotes at conferences in more than 40 countries for organizations like Google, Forbes, and Oracle. He has served as an international judge for The Asian Banker Retail Banking Excellence Awards, the GSMA Global Mobile Awards, the Middle East Business Achievement and Retail Banking Awards.

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